Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka Central Bank may take legal action if commercial banks do not reduce interest rates
Sat, Jul 19, 2014, 01:36 pm SL Time, ColomboPage News Desk, Sri Lanka.

July 19, Colombo: The Central Bank of Sri Lanka has the authority to resort to legal action if commercial banks do not further reduce their interest rates in line with the stipulated rates, Central Bank Governor Ajith Nivard Cabraal has said.

A recent survey conducted by the Central Bank has found that the commercial banks could further reduce their interest rates in line with low interest rates maintained by the Central Bank.

Central Bank Governor has said that the Central Bank had twice requested the commercial banks to reduce their interest rates and several banks had already responded and done so but some banks have not lowered their rates.

He has also pointed out that interest rates could only be reduced to a certain extent so as to maintain a balance between the deposit and lending interests.

ColomboPage - Recent 10 Stories
Sri Lanka President concerned about escalating terrorism, even in Canada
-- [2 hours ago]
Fire destroys row of shops in Sri Lankan capital
-- [2 hours ago]
Sri Lanka National Chamber conducts Budget Seminar 2015
-- [3 hours ago]
Sri Lankan President prepares to present the budget 2015 to parliament tomorrow
-- [3 hours ago]
MRL Corporation starts key test work on Sri Lanka graphite
-- [3 hours ago]
Tamil Nadu political leaders advise Modi not to have closer defense ties with Sri Lanka
Sri Lankan President opens cricketer Dilshan's luxury hotel
Belarus MPs to focus on economic ties during next month's visit to Sri Lanka
CaFFE and CHR condemn attack on Sri Lanka university students
Sri Lanka Army to assist Bangladesh Army to set up a women corps unit

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.